[Magicmike18]

I’m not sure if its just coming out of the pandemic this what is to be expected or if this is just how the industry is going to be nowadays. But lately a good percentage of the files I’ve had submitted to me. Have been just completely horrendous.

Defaults, lowered payments, massively stacked, nsfs galore, or inconsitent revenues. Given I been doing this 8 years now and its always expected that this will happen time to time. But its never been at the pace its been at now. Anyone else running into this problem?

[fin4all]

I’m not sure if its just coming out of the pandemic this what is to be expected or if this is just how the industry is going to be nowadays. But lately a good percentage of the files I’ve had submitted to me. Have been just completely horrendous.

Defaults, lowered payments, massively stacked, nsfs galore, or inconsitent revenues. Given I been doing this 8 years now and its always expected that this will happen time to time. But its never been at the pace its been at now. Anyone else running into this problem?

yeah sorry to break it to you but this is not just lately, its the past 3 years, and obviously specially pandemic and forward...if you havent noticed it until now you just are not seeing enough. but yeah overall bad quality files.

[Magicmike18]

I disagree a little because like I said we always have ran into these files here and there but not as much as we have lately. Before pandemic we were killing it and the quality of submissions was lot better.

[MCAtransfer]

If you have been in the business 8 years I am sure you have great contacts and all sorts of files out there that could drop in for renewal. There will ALWAYS be a demand for MCA for American businessmen. We must all always find ways to be more creative. When I was younger I would get discouraged and bounce around to businesses. Now I realize its better to stand pat when things are tough and let them blow over. Good luck today Mike.

[Yankeeman07]

I disagree a little because like I said we always have ran into these files here and there but not as much as we have lately. Before pandemic we were killing it and the quality of submissions was lot better.

Quick Thoughts -

We all know PPP & EIDL Money helps many business owners, but, those funds have or will be quickly used.
Many business owners don't have the revenue to qualify for $50K - $100K funding. Therefore, start with smaller amounts.

Work your past tickler file with the mindset that the merchants man only qualify for a $15/20k.
Lastly ABP = Always Be Prospecting !

[J.Celifarco]

I have to disagree, I think it comes down to your marketing and the types of files you go after. If you go after 1st position files you will find high quality deals. If you are going after 3rd- whatever position files you are going to get lower quality deals. The longer a client is in the cycle of taking ,multiple cash advances with no strategy to get out the worse a financial position that client is in. It isnt that the quality of the files is getting worse its that its same group of merchants going around the industry taking position after position until they default.

[Michael I]

I have to disagree, I think it comes down to your marketing and the types of files you go after. If you go after 1st position files you will find high quality deals. If you are going after 3rd- whatever position files you are going to get lower quality deals. The longer a client is in the cycle of taking ,multiple cash advances with no strategy to get out the worse a financial position that client is in. It isnt that the quality of the files is getting worse its that its same group of merchants going around the industry taking position after position until they default.

agreed it is all about where and how you are marketing . The d-f paper is low hanging fruit and easier to bring in

[Magicmike18]

I haven't changed anything in what I'm doing or marketing at all in last 8 years and I've had a plethora of success in this industry. I'm still doing well don't get me wrong, all my point of making this post was that I noticed lately good percentage of files being submitted. Either through me or sent from another iso have just been terrible.

[Ben_p]

I haven't changed anything in what I'm doing or marketing at all in last 8 years and I've had a plethora of success in this industry. I'm still doing well don't get me wrong, all my point of making this post was that I noticed lately good percentage of files being submitted. Either through me or sent from another iso has just been lot worse then I ever seen before doing this ever.

It's very simple. Most of the A paper lenders closed up shop entirely during covid or funded very conservatively deals under 100k. The fact that month after month I'm seeing new companies pop up and over leverage the merchants just to win the deal doesn't help. I firmly believe that once the big boys are back in the mix everything will be back to normal.

[Jeremy Swiss]

It's very simple. Most of the A paper lenders closed up shop entirely during covid or funded very conservatively deals under 100k. The fact that month after month I'm seeing new companies pop up and over leverage the merchants just to win the deal doesn't help. I firmly believe that once the big boys are back in the mix everything will be back to normal.

We are big and running, so not sure which "big boys" you are referring to?

[Winning]

I have to disagree, I think it comes down to your marketing and the types of files you go after. If you go after 1st position files you will find high quality deals. If you are going after 3rd- whatever position files you are going to get lower quality deals. The longer a client is in the cycle of taking ,multiple cash advances with no strategy to get out the worse a financial position that client is in. It isnt that the quality of the files is getting worse its that its same group of merchants going around the industry taking position after position until they default.

Preach!

[helpinghand]

Depends on where you are marketing and what questions are being asked. You can filter low quality deals in your ad copy, form fill, landing page etc.

[SVP_Funding]

yeah sorry to break it to you but this is not just lately, its the past 3 years, and obviously specially pandemic and forward...if you havent noticed it until now you just are not seeing enough. but yeah overall bad quality files.

I disagree. The submissions have not been as strong, for us, within the last 3 months.

[fundingsmbs]

Have seen many many first position paper with many layered funders behind them. Not sure going after first position alone will do the trick if many of those same merchants take addtl money right after. I think the industry is saturated, and, alot of people are churning the same deal with layering to make up for less apps and lower quality garbage coming in.

[TheUnderwritingProdigy]

we are big and running, so not sure which "big boys" you are referring to?

lol who are you